Qorvo Inc (QRVO) Shares Sold by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC cut its stake in shares of Qorvo Inc (NASDAQ:QRVO) by 17.3% in the 4th quarter, Holdings Channel reports. The firm owned 2,086,051 shares of the semiconductor company’s stock after selling 435,419 shares during the period. Qorvo makes up 1.0% of Frontier Capital Management Co. LLC’s portfolio, making the stock its 16th biggest position. Frontier Capital Management Co. LLC’s holdings in Qorvo were worth $138,931,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in QRVO. Federated Investors Inc. PA lifted its position in Qorvo by 4.0% during the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 90 shares during the last quarter. Principal Financial Group Inc. lifted its position in Qorvo by 1.9% during the second quarter. Principal Financial Group Inc. now owns 198,067 shares of the semiconductor company’s stock valued at $12,542,000 after purchasing an additional 3,633 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in Qorvo by 25.8% during the second quarter. Oppenheimer & Co. Inc. now owns 4,012 shares of the semiconductor company’s stock valued at $254,000 after purchasing an additional 824 shares during the last quarter. Wells Fargo & Company MN lifted its position in Qorvo by 1.2% during the second quarter. Wells Fargo & Company MN now owns 114,834 shares of the semiconductor company’s stock valued at $7,271,000 after purchasing an additional 1,409 shares during the last quarter. Finally, Amalgamated Bank lifted its position in Qorvo by 61.8% during the second quarter. Amalgamated Bank now owns 14,624 shares of the semiconductor company’s stock valued at $926,000 after purchasing an additional 5,584 shares during the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

In related news, Director Walter H. Wilkinson sold 15,925 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $80.02, for a total transaction of $1,274,318.50. Following the completion of the sale, the director now directly owns 62,480 shares in the company, valued at approximately $4,999,649.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel A. Dileo sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the sale, the director now owns 4,622 shares of the company’s stock, valued at $369,760. The disclosure for this sale can be found here. Insiders have sold a total of 53,096 shares of company stock valued at $3,968,257 over the last quarter. 0.91% of the stock is currently owned by company insiders.

Qorvo Inc (NASDAQ QRVO) traded up $1.55 during trading hours on Thursday, reaching $70.85. 1,025,700 shares of the company were exchanged, compared to its average volume of 1,386,891. Qorvo Inc has a 52 week low of $57.63 and a 52 week high of $81.20. The company has a quick ratio of 2.71, a current ratio of 3.80 and a debt-to-equity ratio of 0.20. The company has a market cap of $9,020.00 and a price-to-earnings ratio of -506.07.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.52. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The company had revenue of $821.60 million during the quarter, compared to analyst estimates of $810.47 million. During the same period in the prior year, the business posted $1.29 EPS. The firm’s revenue was down 5.0% compared to the same quarter last year. research analysts predict that Qorvo Inc will post 4.74 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. ValuEngine lowered shares of Qorvo from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Morgan Stanley boosted their price objective on shares of Qorvo from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 13th. BidaskClub lowered shares of Qorvo from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 12th. KeyCorp restated a “hold” rating on shares of Qorvo in a report on Wednesday, October 11th. Finally, Mizuho restated a “hold” rating and issued a $70.00 price objective on shares of Qorvo in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $76.89.

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Qorvo Company Profile

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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